SOLUTION: After three months, $8200 deposited in a savings account with simple interest had grown to a total of $8364. What was the interest rate?

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Question 1075398: After three months, $8200 deposited in a savings account with simple interest had grown to a total of $8364. What was the interest rate?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
p=8200
r unknown
t=1/4
i=164
164=8200*1/4*r=2050r
r=164/2050=0.08 or 8%